In what has been a challenging environment for restaurant chains, Starbucks continues to brew up strong growth and one analyst says there's still more to come.
At a time when restaurants are seeing slower traffic, consumers are still looking for their caffeine fix. And on Thursday Starbucks hiked its full-year outlook after delivering strong sales growth across the board for the third quarter.
"There wasn't much more you could ask for from the numbers," Morningstar analyst R.J. Hottovy told CNBC on Friday. "Comps were great, they showed a lot of great traffic gains especially at a time when a lot of competitors were eking out any kind of traffic gains if not traffic losses."